Get the latest tech news
Intel To Sell Majority Stake In Altera For $4.46 Billion To Fund Revival Effort
Intel will sell a 51% stake in its Altera programmable chip unit to private equity firm Silver Lake for $4.46 billion, aiming to cut costs, raise cash, and streamline the company's focus as it shifts toward becoming a contract chip manufacturer. CNBC reports: The deal, announced on Monday, values A...
[...] Since last year, Intel has taken steps to spin Altera out as a separate unit and said it planned to sell a portion of its stake. "Today's announcement reflects our commitment to sharpening our focus, lowering our expense structure and strengthening our balance sheet," [CEO Lip-Bu Tan], who took the helm after former top boss Pat Gelsinger's ouster, said. Reuters had first reported in November that Silver Lake was among potential suitors competing for a minority stake in Altera.
Or read this on Slashdot